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Post Session: Quick Review
Feb-10-2025

Indian equity markets extended their downward trade for fourth straight session on Monday amid fresh concerns over new US tariff. Markets made negative start and remained lower till the end of the session as traders were concerned ahead of IIP and CPI data, to be released on February 12. 

Some of the important factors for the markets: 

Trump tariff concerns: US President Donald Trump announced plans to impose 25 percent tariffs on all steel and aluminium imports, escalating trade tensions. He also signalled potential reciprocal tariffs on nations that tax US imports, along with duties on pharmaceuticals, oil, and semiconductors.

Sustained foreign fund outflows: Some concern came as exchange data showed Foreign Institutional Investors (FIIs) offloaded equities worth Rs 470.39 crore on Friday.

India's exports likely to touch record $800 billion in 2024-25 fiscal year: Commerce and Industry Minister Piyush Goyal said the country’s exports are growing significantly and would achieve a record $800 billion in 2024-25 fiscal year. He added ‘exports have been growing and have risen significantly in the last four years.

Global front: European markets were trading mostly in green amid European Central Bank Governing Council member Boris Vujcic said that expectations for three more rate reductions this year are reasonable. Asian markets ended mixed after a measure of the public assessment of the current situation of the Japanese economy weakened unexpectedly at the start of the year, and future conditions also remained pessimistic. The survey data from the Cabinet Office showed that the current conditions index of the Economy Watchers' Survey, which measures the present situation of the economy, dropped to 48.6 in January from 49.0 in December.

The BSE Sensex ended at 77,311.80, down by 548.39 points or 0.70% after trading in a range of 77,106.89 and 77,849.58. There were 6 stocks advancing against 24 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index declined 2.06%, while Small cap index was down by 2.25%. (Provisional)

The top losing sectoral indices on the BSE were Realty down by 2.69%, Metal down by 2.63%, Consumer Durables down by 2.61%, Utilities down by 2.49% and Power was down by 2.42%, while there were no gaining sectoral indices on the BSE. (Provisional)

The top gainers on the Sensex were Kotak Mahindra Bank up by 1.34%, Bharti Airtel up by 0.97%, HCL Tech up by 0.50%, ICICI Bank up by 0.48% and Tech Mahindra up by 0.41%. On the flip side, Power Grid down by 3.45%, Tata Steel down by 3.18%, Zomato down by 2.87%, Titan Company down by 2.83% and Bajaj Finance down by 2.15% were the top losers. (Provisional)

Meanwhile, Finance Minister Nirmala Sitharaman has said that income tax relief provided for in the Union Budget coupled with RBI repo rate cut put together will boost recovery in consumption in the economy. In Union Budget for 2025-26 tabled on February 1, the finance minister had announced that no income tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers, especially the middle class. Earlier, this limit was Rs 7 lakh. An estimated one crore middle-income Indian taxpayers will be out of tax net.

She said ‘Since after the budget, the few inputs that I’ve had from some business leaders and some senior journalists who have been interacting with business is that (though these are anecdotal)… Most of it seem to be on the same page that the orders for fast moving consumer goods for the period April to June are already getting booked, and industry is clearly seeing the signs of a possible recovery of consumption.’

As a result of fresh demands, she said that many businesses were looking at reviewing the capacity utilization. Further, she said  ‘I see it a positive sign, and with yesterday’s decision of the RBI (the reduction of repo rate), I’m sure together, things can move in alignment.’

The CNX Nifty ended at 23,381.60, down by 178.35 points or 0.76% after trading in a range of 23,316.30 and 23,568.60. There were 10 stocks advancing against 39 stocks declining on the index, while 1 stock remained unchanged. (Provisional)

The top gainers on Nifty were Kotak Mahindra Bank up by 1.60%, Bharti Airtel up by 0.97%, Britannia up by 0.80%, Tata Consumer up by 0.62% and HCL Tech up by 0.48%. On the flip side, Trent down by 4.72%, Power Grid down by 3.40%, Tata Steel down by 3.09%, Titan Company down by 2.84% and ONGC down by 2.59% were the top losers. (Provisional)

European markets were trading mostly in green; UK’s FTSE 100 increased 28.68 points or 0.33% to 8,729.21 and Germany’s DAX was up by 0.63 points or 0% to 21,787.63. On the flip side, France’s CAC was down by 1.46 points or 0.02% to 7,971.57.

Asian markets ended mixed on Monday after Wall Streets’ fall last Friday after US President Donald Trump's pledge to impose tariffs on all imports of steel and aluminum and introduce reciprocal tariffs on many countries this week, while investors are cautiously awaiting Federal Reserve Chair Jerome Powell’s testimony before Congress and key US inflation reading due this week. Chinese shares gained as mixed inflation data raised hopes that China could roll out more stimulus measures such as interest rate cuts or infrastructure spending to boost growth, while Hong Kong shares gained, led by China’s AI-related shares.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,322.17

18.50

0.56

Hang Seng

21,521.98

388.44

1.80

Jakarta Composite

6,648.14

-94.44

-1.42

KLSE Composite

1,589.95

-0.96

-0.06

Nikkei 225

38,801.17

14.15

0.04

Straits Times

3,875.13

13.71

0.35

KOSPI Composite

2,521.27

-0.65

-0.03

Taiwan Weighted

23,252.14

-226.13

-0.97
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